All information about the future of the Real Estate Anti-Money Laundering Act

Araxes Real Estate Agency draws attention to the importance of complying with legal regulations and providing safe and secure real estate transactions. However, to succeed in this area, real estate agencies in Donostia need to have a good understanding of and adhere to the laws in force, particularly Law 10/2010 on the prevention of money laundering and terrorist financing.

Law 10/2010 on the Prevention of Money Laundering and Terrorist Financing has a significant impact on real estate transactions, especially in Donostia. Here are a few key provisions of this law:

1. Customer Identification: It is now necessary to fully identify all customers, both buyers and''vendors. This includes personal data such as name, surname, address, nationality and identification document number (NIE or DNI for Spanish citizens). In addition, foreign buyers must obtain an NIE for any economic activity in Spain.
2. Registration and data storage:Real estate agencies must keep information and documents related to transactions for at least 10 years, including contracts, agreements and records of all transactions.
3.

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Reporting suspicious activity: In the event that suspicious activity related to money laundering is detected, real estate agencies must immediately report the information to the Financial Information Authority (UIF) in Spain.

4.''taxes, such as transfer tax and notary fees, which may vary depending on the location and value of the property.
Real estate transactions should be closely monitored and any unusual or suspicious activity should be investigated.
The real estate agency Araxes Inmobiliaria provides its clients with consulting services for compliance with the law on the prevention of money laundering and terrorist financing. Araxes cooperates with the competent authorities to prevent and detect money laundering, providing information and cooperating with investigations when necessary.
Failure to comply with these legal provisions may result in''entail serious sanctions, including heavy fines and the possibility of criminal prosecution.
Araxes Inmobiliaria is a trusted partner for legal compliance and professional advice. The agency offers exceptional service based on the highest standards of ethics and transparency. Araxes continually trains its highly qualified staff to keep abreast of changes in the law. Their dedication ensures that all transactions comply with the law and clients feel safe and protected at every stage of the process.
Trust Araxes to handle your real estate transactions in Donostia with the decent protection you deserve. This is the best way to realize your dreams o''real estate in a legal, ethical and successful manner.